Only on the basis of AIR information no addition can be made

DCIT Vs M/s. Deloitte Touche Tohmatsu (ITAT Mumbai)

Undisputedly, a reading of the assessment order makes it clear that the disputed addition has been made only on the basis of AIR information. It is evident, the Assessing Officer has accepted the fact that the assessee has partly reconciled the AIR information with its books of account. Thus, from the aforesaid facts, it becomes clear that the figure shown in the AIR information do not in reality represent assessee’s income. It is also evident, the Assessing Officer has made the addition simply on the allegation

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